I have been remiss in the publication of my opinions lately. While Members of the National Association of Mortgage Field Services (NAMFS) Regime may have been hopeful that I met with an untimely demise, the reality is that I have been swamped with private equity rehabs. Many of these investors; many whom are Members of the Mortgage Bankers Association (MBA), have begun to ask some pretty pointed questions about the NAMFS Regime and how its Rank and File do business.
I got a call from a fellow in Florida with respect to the Carol Boyd fiasco. As many remember, Boyd defrauded Contractors in multiple states and the NAMFS Regime had the opportunity to at least publicly withhold that they do not condone that type of activity. Did they? Of course not. Eric Miller, Executive Director of the NAMFS Regime whom receives WELL OVER ONE HUNDRED THOUSAND DOLLARS PER YEAR; NEARLY SEVENTY PERCENT OF ALL MEMBER DUES was directly contacted by Contractors and refused to do anything to assist the Contractor that we are able to identify.
Back to the Florida fellow — I will call you later this week, just got bogged down — he is still owed money. Where is Boyd? Well, as best we can tell she tossed a bunch of workers out on the street and has slithered away to form up a new Company which will obviously be welcomed back into the NAMFS Regime.
One of the fellows is a Regulation D 503 Investor whom works substantially upon the Wells Fargo Portfolio. When he stepped of the plane the first thing his first words were, “You have no idea how bad the Background Check Results are.” In our short, three hour meeting — he was en route to DC — I came to realize that the NAMFS Regime had invited their own demise.
Here’s the rub to use his words: We had Background Checks in play for years and they worked just fine. Big volume, plenty of money. So, volume drops and everyone becomes a floater (This is what he calls Order Mills).Now, we have a hundred hands in the pie that used to have ten. You exponentially increase the liability in that no one knows whom is doing what. This hair brain scheme to roll out on parade everyone’s History is the end. Jesus [explicative] who do these [explicative] think they are? Look, this is bad, real bad. Now, for someone like you who wants all of us in a coffin it is good I suppose. When it gets out that we are in the HIGH DOUBLE DIGITS of Fail on the results you can’t just bury the info. You have to fire them.
Reaves and her holier than thou bullshit sunk the ship. See, NAMFS(pronounced NAM – FES) pushed this Agenda out and now what do you do? Sure, you get a few bucks, but now you have no LEGAL labor. Shit, let’s walk this: You loose half your work force; we’re in a bubble now anyway, and the Paymasters and you know precisely whom I mean start to question those back door loans. Bad all the way around. The Regionals are gone. You called that correctly. I don’t know about your employee concept; as an Investor I like it, the problem is that you get into NLRB issues.
The lunch arrives and then: CFPB is going to drill down hard. Lerner and the crew are going to have a field day with this. The Left is going to have a crucifixion party. No way anyone is able to deny the fact that they possess the [Background] Checks. Forget those; now we are in the Employee Business. The [Religious Term] damn CIA doesn’t maintain these kind of files and now you throw on the facial recognition software?
At the Departure Gate: I don’t know who you work for and I really don’t care. I do know that you have some people scared. I agree with a good portion of what you say. Most of those I talk with daily agree. The problem is the Cat is out of the Bag now. If your NAMFS Membership believes that they are not going to be hung out to dry; if they think that they are not going to take the fall for what their fearless leaders have been doing, they are sadly mistaken. I know you are going to write on this. All I am asking is that you put in there that not all of us are bad people. The Membership renewals are down; you know it I presume. It is a parade. If any of us speak up we get black balled. I’m not saying what is happening to the Contractors is right. What I am saying is that our hands are tied. Hell, take a look at the recent appointments to these Committees. Bullshit. Appointment in name only. People get appointed if they donate the right amount. All you need to do is follow the money. These documents should occupy you for awhile.
So, for the price of a meal and the ability for my Source to feel like he was in a Confessional, a door was opened. I empathize with the gentleman; I mean to see what you have built is resting upon sand and the clouds are darkening — sans that Gail Force Winds are howling — is uncomfortable to say the least. The reality is that Eric Miller is simply the figure head of the NAMFS Regime. The NAMFS Regime Board has changed very little in years other than the addition of a seat here or there to proverbially stroke someone’s sexual organ. The names never change; only the reward for receiving the Executive Director’s Chair — the Ticket Punching — cycles through with the price paid by the NAMFS Regime Rank and File.
It will take several weeks to corroborate the two hundred odd pages he left with me. I won’t use terms like Smoking Gun as the reality is I have exposed countless examples of corruption and outright criminality. These documents, though, will drill down on specific cases such as a Michigan Firm enriching themselves on false dethaws years back. To ensure there is no misunderstanding it is not anyone I have ever written upon.
A new dawn is upon the Industry. It is pretty clear to me and many others that Membership within the NAMFS Regime only goes to assist in the linking of your Company to Carol Boyd and the rest of the sordid lot I have written upon. The days of tyranny are rapidly coming to an end for the NAMFS Regime. With their Training Model — remember that term as you will see the word Training used in several of the Class Action Law Suits being prepared by folks like Shepphard, Finkleman, Miller and Shah on the Employee vs Independent Contractor Status — in the crapper and Membership on the decline, the time to face reality is upon the NAMFS Regime. I am able to pinpoint half a dozen NAMFS Regime Rank and File now out of business and that number grows even as I type this Article. I believe the only question left to ask is, “Do you have a lawyer.”